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re: There’s more oil and gas than ever — and the industry is tanking
Posted on 2/12/20 at 2:54 am to buckeye_vol
Posted on 2/12/20 at 2:54 am to buckeye_vol
You make good points, but I don’t think the alternative energy market is in a place to take away substantial market share anytime soon. Hypothetically if half the supply of oil and gas was all of a sudden removed from the market, there is no renewable infrastructure in place to absorb the shock. Sure, over time this might not be true as renewables grow, but the cost is what it is today due to tax subsidies. If everyone all of a sudden we’re to rely on renewables, the tax subsidies provided by the govt would be exponentially greater than they currently are and I would assume be removed/restricted. I don’t have any numbers to back this up, just my logic.
This post was edited on 2/12/20 at 2:55 am
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